Malta Payments Guide

“Malta is my home, and Malta is my love,

And I’ve got the birds at the coast to great you all;

But like the muse of your love,

You will always meet me at the coast as your tourist guide.”

                                                                                                       Edward Kofi Louis

Officially the Republic of Malta, a breathtaking country reminiscent of King’s Landing, is geopolitically quite noteworthy contrary to its small size. Malta is an island country, and it is located in the central Mediterranean Sea. It’s no wonder it’s one of Europe’s most favored vacation spots with its exciting history, kaleidoscope culture, outstanding cuisine, and glorious beauty.

Have you ever been to Malta? If yes, you probably fell in love with its exceptional aura at first sight as soon as you stepped onto the island. A picturesque archipelago salutes you with its Churches, Palazzos, Farm Houses, Villas, and even City Walls built from Maltese limestone. This extraordinary material creates a magical atmosphere under the sunset, and Valletta is considered one of the magnificent spots to watch nightfall. 

Due to its location, this epicenter played a significant role throughout history, especially during World War II, when it functioned as a base for the Allied Powers and was heavily bombarded by German and Italian aircraft. Malta achieved its sovereignty from Great Britain in 1964, joined the Commonwealth, and in 1974, it was announced as a republic. In 2004, the Republic of Malta was welcomed by the European Union.

Apart from its diplomatic value, Malta has lots to present. There are three times more tourists than residents on the Maltese islands, and the tourists know where to visit for sure. With one of the most pleasing climates in the world and more than 3000 hours of sunlight annually, Malta is the prime destination for a time-out in any month. 

Further, it has some of the purest crystal waters in the world. Therefore, it is not only an ideal locale for scuba diving but also a port to stop for giant international cruises. In and along its shorelines, you can explore reefs, sunken ships, and aircraft wreckages. A utopic location for a summer getaway!

Malta is a popular filming area due to its unique architecture and exceptional surroundings. Some of the most prominent movies and series were filmed on the island. The iconic wedding scene from Game of Thrones was filmed at the Azure Window on Malta’s sister Island, Gozo. The epic historical drama Gladiator, the Oscar-winning Midnight Express, World War Z, Assassin’s Creed, Munich, and Troy are other hits that used Malta as a plateau. 

Throughout history, Malta was ruled by several game-changer empires, including the Phoenicians, Carthaginians, Romans, Byzantines, Arabs, Normans, Sicilians, Spanish, Knights Templars, French, and lastly, the British. Thanks to its miscellaneous chronological background, there is astonishing architecture all over Malta, made by different nations in myriad styles, from Greek Byzantine temples to Baroque cathedrals. Additionally, travelers can find the oldest free-standing structures on Earth in the Maltese islands, and some are deemed to have been constructed as long ago as approximately 5,000 years ago. This makes these structures older than the Pyramids of Egypt. 

Malta is one of the small economies in volume and is currently ranked 127th worldwide. Compared to other European countries, Malta generally offers a reasonable and decent living level and is one of the least expensive places to live; however, the expenditure may vary depending on your lifestyle and where you reside. The monthly costs for a single person in Malta have been estimated at around €762.15 with no rent included. The rent for a moderate one-bedroom apartment in the city center charges around €824.01, and the average monthly revenue is €1,229.49.

Commonly, Malta is not expensive to live in. Most state healthcare services in Malta are free; if you are a European Union citizen, you are not required to pay school fees. Since it presents an excellent standard of education and outstanding opportunities, students from all over the world prefer studying in Malta. Plus, it is one of the favorites of people who want to learn Lingua Franca, English abroad.

The Republic of Malta has recently become a top-rated terminus for digital nomads, expats, and travelers who want to taste the perfect blend of multicultural harmony among Sicilian and Arabic backgrounds. Being in Europe with a charming touch of the East is captivating for sure. Hence, more and more foreigners choose Malta to reside in every day.      

Choosing Payment Methods in Malta

Whether you are a student in English courses or an entrepreneur looking for opportunities in the land of magnetic megalithic temples, you must know how to pay for your expenses. In the rest of this article, our readers will find the most widespread payment rituals to use in Malta, their pros and cons, along with their accessibilities.   

What are The Different Types of Payment Methods in Malta?

When it comes to preferred payment methods and practices in Malta, you will discover that Maltese paths are similar to European Union countries. Although it is a small island country, Internet access is obtainable to businesses and home users in eclectic setups in Malta. Accordingly, online purchases are relatively prevalent and made mainly by debit or credit cards. The following most used payment practice in Malta is cash; when we look at the shopper patterns.

The most widespread payment options in Malta are:

  • Cash in Malta

It would be a mistake to call The Republic of Malta a cash-free nation, and it looks like this Maltese attitude will stay the same in the near future. Cash use is still typical in the country for small in-store buys. The local currency is Euro, and it is accepted everywhere. If you are voyaging to Malta, we recommend you keep cash on you while you will most likely find POS machines easily in the city centers. 

  • Credit Card in Malta

Since internet penetration evolved more heightened, so did online shopping paces. The citizens of Malta prefer making their online purchases primarily using debit or credit cards. While it is common to use cards in the country, you can have a minimum card pay of around €5-10. Major credit and debit cards such as American Express, Visa, Mastercard and Maestro are common in Malta. All in all, as a tourist, you will be able to use your regular credit card if you are traveling to Malta. Yet, please note that to buy a bottle of cold water in the hot August middays, you can struggle to find a kiosk accepting your card payment of €1-2. Always keep some cash with you, just like in any other country. 

  • Cryptocurrency in Malta

Malta is a frontier in the cryptocurrency domain around the globe. It is known as the “Blockchain Island”. Typically, a global blockchain seminar featuring institutions and providers will be previously held in Malta. The country is more observant of the long-term consequences of cryptocurrency, so it will regulate the statutes around it as the subject grows. 

The futuristic formats of assets, crypto coins, are entirely enabled to buy, sell and trade in the Maltese law. They may not be considered legal tender as of now, but this might reverse in the near future. Do you want to hop on the cryptocurrency trend in Malta? Feel free to utilize various reliable trading platforms available in this spectacular country. 

  • Digital Wallets in Malta

Digital wallets are a revolutionary and handy approach to conventional banking systems. They do not instruct time-consuming processes to create an account, in contrast to the obligation of pausing for hours in line at a suffocating bank branch. Opening an account will take up to a couple of minutes. Amazing, right? We thought so!

Moreover, digital wallets present swift and low-cost international money transfers worldwide. Account holders can take advantage of comprehensive fiat currency listings besides affordable transaction fees. If you own a digital wallet app, you can monitor the activities in detail with a few clicks. You can also lock your account for online transactions or freeze it when you feel at a cyber risk.  

Digital wallet usage in Malta is getting more widespread in recent years. Numerous digital wallet options are available for Malta’s residents with different perks and attributes. Since digital wallets furnish protection and amenity, they can be regarded as the best payment method online. Thus, witnessing more people sign up for e-wallets every day does not surprise us. 

Hello Malta! Merħba għal Jeton Wallet!

Malta always enchanted us, just like the rest of the world. We have created a state-of-art digital wallet, Jeton Wallet, for those who are lucky to live in Malta or planning to move to Malta for business. Our professional team is highly experienced in the European Zone. We understand consumer rituals and the most convenient paths to track.

Jeton Wallet users can receive and send money overseas through our online payment services with affordable transaction fees. Furthermore, we support over 50 fiat currencies and cryptocurrencies in 100 countries. Thus, say goodbye to expensive exchange rates!

To meet with Jeton payment services, stop by and carry your online venture to the next level!

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